Indian Refiners Wary Of Buying Russian Oil Ahead Of Price Cap

Some large Indian refiners, both private and state-owned, haven’t placed orders to buy Russian oil loading after December 5, the day on which the EU embargo and the attached price cap mechanism on Russian oil are set to enter into force, Reuters reported on Wednesday, citing sources with knowledge of the refiners’ plans.    Indian conglomerate Reliance Industries, which operates the world’s largest refining hub Jamnagar, as well as state-held Bharat Petroleum, haven’t sought to buy Russian oil after December 5,…